KUALA LUMPUR: Conglomerate YTL Corp Bhd saw a 15.6% decline in net profit to RM298.93 million or 2.87 sen a share, for its fourth quarter ended June 30, 2015 (4QFY15), from RM354.07 million or 3.42 sen a share a year ago, amid wider losses in its hotel division and lower
contribution from property development.
Revenue fell 10.63% to RM4.11 billion from RM4.6 billion.
The group also declared an interim dividend of 9.5 sen per share, payable on Oct 23.
YTL Corp (fundamental: 1.2; valuation: 1.4) attributed the decline in quarterly net profit to lower contributions from information technology and e-commerce-related business, cement manufacturing and trading, property investment and development, hotels and utilities.
The hotel segment’s losses widened to RM21.32 million, from RM14.48 million, while the profit before tax for property investment and development plunged to RM57.27 million from RM258.63 million.
For the full year, YTL Corp’s net profit stood at RM1.07 billion or 10.27 sen a share, down nearly 31% from the RM1.55 billion or 15 sen a share achieved in FY14, on lower contribution from cement manufacturing and trading, property investment, and development and utilities.
Revenue for FY15 was down 12.7% to RM16.82 billion from RM19.27 million a year ago.
This article first appeared in digitaledge Daily, on August 21, 2015.